Kinross Gold (NYSE:KGC) Sets New 52-Week High at $6.87

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares reached a new 52-week high on Friday . The stock traded as high as $6.87 and last traded at $6.84, with a volume of 3039320 shares. The stock had previously closed at $6.73.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Jefferies Financial Group increased their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday. CIBC raised their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and a consensus target price of $6.44.

Kinross Gold Stock Up 1.0 %

The company has a 50 day moving average of $5.79 and a 200-day moving average of $5.63. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. The company has a market cap of $8.35 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $0.09 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts predict that Kinross Gold Co. will post 0.37 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Tuesday, March 5th. Kinross Gold’s payout ratio is presently 35.29%.

Institutional Trading of Kinross Gold

Institutional investors have recently made changes to their positions in the stock. Bruce G. Allen Investments LLC purchased a new stake in shares of Kinross Gold in the 4th quarter worth about $26,000. CWM LLC boosted its position in Kinross Gold by 353.2% during the 3rd quarter. CWM LLC now owns 7,378 shares of the mining company’s stock valued at $34,000 after acquiring an additional 5,750 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Kinross Gold during the 4th quarter worth approximately $44,000. Compagnie Lombard Odier SCmA bought a new position in shares of Kinross Gold in the 4th quarter worth approximately $53,000. Finally, Advisor Resource Council purchased a new position in shares of Kinross Gold in the 1st quarter valued at approximately $60,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.